Looks like it would be good as protection against things like falls or bumps too. Pardon my uninformed-ness, but does the fire button lock? Maybe a strap that goes completely around from bottom to top with clasp to hold the mod in the holster and another small clip or lanyard to attach to something else?
I made myself a leather holder for my Microstick......
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I didn't do any cutouts or even measure so it's not perfect but now that I know I can make one, I can make a better one.